Importance of Cybersecurity in Business

What is Cyber Security?

Cyber security is about protecting your computer-based equipment and information from unintended or unauthorized access, change, or destruction.

As an increasing number of daily business activities move online, including advertising, selling, finding new markets, reaching out to customers, recruiting staff, communicating with customers and suppliers or even carrying out financial transactions, it is becoming increasingly important to ensure that no one is attempting to steal your company’s information and money or disrupt business.

What aspects of your business are directly in harm’s way in case of a cyber-attack?

Your money, IT equipment, IT-based services, customer data, and information base are directly at risk in case of a cyber-attack. Information can take on many forms: client lists, customer databases, financial details, customers’ financial details, deals that are either finalized or under consideration, pricing information, product designs, and manufacturing processes.

What form could a Cyber-Attack take?

Attacks on information held in third-party systems such as cloud devices.

What Impact can a Cyber-Attack have?

Financial losses

Increased costs of recovery and replacement

Damage to reputation

Damage to other companies that you supply or are connected to

What are the different types of Cyber-Attacks?

Denial-of-service: The denial-of-service attack refers to one that successfully prevents the authorized functionality of networks, systems, or applications by exhausting resources. Once your system is attacked in this manner, the hackers normally ask for a ransom or fee to regain access to files.

Malware, worms, and Trojan horses: These are “deadly viruses” which are spread by e-mail, instant messaging, malicious websites, and infected non-malicious websites.

Botnets and zombies: A botnet, short for robot network, is an aggregation of compromised computers that are connected to a central “controller.” The compromised computers are often referred to as “zombies.” Botnets which are designed to steal data are improving their encryption capabilities and thus becoming more difficult to detect.

Scareware: More commonly understood as a fake security warning, this type of scam can be particularly profitable for cybercriminals, as many users believe the pop-up warnings that tell them their system is infected and the user are tricked into downloading and paying for the special software to “protect” their system.

Why is Cybersecurity Important?

It is very important to protect your company from the threat of scams, data theft, and other online vulnerabilities. Thousands of infected web pages are being discovered every day. Hundreds of millions of records have been involved in data breaches over just the last few years, and it is not easy to recover from such breaches. Many micro-terrorist organizations are also being created. These units hack into machines, compromising all your information.

Some hackers are more interested in uncovering passwords and gaining access to closed networks so they can manipulate data and websites or shut down essential functions. This necessitates a complete focus on rendering all points of vulnerability inaccessible to the prying eyes of hackers and cyber-terrorists

Here is an infographic on how to mitigate cyber-attacks and prepare for cyber security:

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The Funnel Report: Friday Recap (Nov 12-15)

The Funnel Reports Weekly News Recap Experience management company, Qualtrics, was all set for an IPO launch this week before SAP announced that it is acquiring the company for $8 billion. Cisco recently announced the launch of a hybrid deployment option for customers of both Cisco and Amazon’s Web Services. Alibaba has decided to make Alicloud, their cloud computing arm, its main business in the future. Cisco recently announced the layoff of roughly 460 employees from their San Jose, California headquarters. Two-year-old startup, Growlabs, has been acquired by Adroll Group to help them boost their identity graph and data capabilities. Mixpanel is the world’s largest user analytics platform and is looking to expand their commitment to helping organizations grow and make more data-informed marketing decisions. VoltDB, a real-time application database, will derive analytics results from data streams based on machine learning algorithms from MapR Technologies. ****
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Mixpanel Expands Business Offerings

The Funnel Reports Top News Story Mixpanel is the world’s largest user analytics platform and is looking to expand their commitment to helping organizations grow and make more data-informed marketing decisions. ****
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VoltDB and MapR Technologies Join Forces

The Funnel Reports Top News Story VoltDB, a real-time application database, will derive analytics results from data streams based on machine learning algorithms from MapR Technologies. ****
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For more content from TechFunnel.com, click HERE: https://www.techfunnel.com
Watch The Funnel Report and other videos HERE: https://www.youtube.com/channel/UCGTxz2nU-LVbyxtVq1C_MWQ
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Follow The Funnel Report on Instagram HERE: https://www.instagram.com/tech_funnel_online/ TechFunnel.com is an ambitious technology-focused digital channel dedicated to highlighting the economy of information and the massive intersection of business and technology. We offer useful information, news, tools, and recommendations about what is new in the industry, where technology is headed, and how it can help you improve your personal and professional life. The goal of TechFunnel.com is to keep businesses and consumers on the cutting edge of need to know information about the people, product, companies, and innovations that are changing the world.